McKesson is one of the leading American pharmaceutical companies that offer various healthcare services and tools. The organization has made into the list of the Fortune 500 and has many subsidiaries such as Health Mart, Rexall Pharmacy Group and McKesson Europe. It is into two major businesses- the McKesson Technology Solutions and McKesson Distribution Solutions. The company is now known as one of the oldest healthcare companies in United States of America.
The Mission Of McKesson:
- Together with our customers and partners we are creating a sustainable future for health care.
The Vision Of McKesson:
- To bring together clinical knowledge, process expertise, resources and the technology of the McKesson to help our customers fundamentally change the cost and the quality of the health care.
The Values Of McKesson:
- Integrity
- Customer-first
- Respect
- Accountability
- Excellence
Initial Years:
- The company was founded in the year 1833 by Charles Olcott and John McKesson
- In 1855, it became one of the top wholesale firms for manufacturing the drugs
- In the year, 1929 despite the great depression, the company achieved impressive sales
- In the 1960s, it merged with Foremost Dairies
Growth Story:
- In the 1990s, it shifted its focus more to health care
- In 1991 it got a 100% interest in the Medis Health and Pharmaceutical services
- In 1999, it acquired HBOC, medical information systems
- In 2005, McKesson acquired Medcon, the Israeli based IT firm
- In 2010, the company acquired US oncology
- In the same year, the Asia Pacific branch was acquired by Medibank Private Limited
- In 2012, the company expanded its operation in Australia with the acquiring of Emendo
- In 2013, McKesson announced a joint effort with CommonWell Health Alliance
- In 2014, it took over Celesio, a healthcare company
- In the same year, McKesson sold majority of its business to Symphony Technology Group
- In 2015, it opened new headquarters in Virginia
- In 2016, McKesson merged with Change Healthcare
- In 2018, it shut down 40 Rexall locations in Western Canada
- In 2019, the company announced moving to Irving, Texas
- The same year, Brian Tyler became the CEO of the company
- In 2020, the company announced it would secede from Change Healthcare
Where The Company Stands Today?
- The company holds 8th position in the highest revenue generator of the Fortune 500 list
- The number is around 231, 051 Million US dollars
- McKesson Europe has its functioning in around 13 countries of the continent. It serves 15 million patients daily across the region. The company distributes a good number of 150 million doses of vaccines yearly to the healthcare organizations.
- The organization would also support the American government in the distribution of the COVID-19 vaccine.
- McKesson stock gained around 4.9% as compared to the industry decline of around 5.4%
